Coal exports expected to fall 25%

Coal exports are expected to drop 25% this year because foreign purchasers are delaying orders in hope of a further fall in spot prices, reported state media. A cut in tax rebates contributed to the decline in the first 9 months. Exports may reach 60 million tons less than the government's 80 million ton export limit for 2005, said Pan Wanze, CEO of China Coal Import & Export Co, the nation's biggest coal dealer.